Ford Cautions About Earnings Growth

Auto Maker Cites European Recession, Venezuela, Cost Pressures

The rapid growth and robust profit gains for U.S. auto makers since the industry's near collapse in 2009 is giving way to a new era of margin pressures and market share wars.

Ford Motor Co. warned on Wednesday its 2014 profits won't match this year's results because of higher costs and a currency devaluation. And it said it likely won't meet operating profit projections of between 8% and 9% of sales by 2015 or 2016. That goal is...